Transcription
2021-2022 Federal Direct Parent PLUS Loan Application ProcessFollow these steps to complete the application process for a Federal Direct Parent PLUS Loan.1. Complete the 2021-22 Free Application for Federal Student Aid (FAFSA) for yourdependent undergraduate student.2. Log onto https://studentaid.gov and complete a new Master Promissory Note(MPN) for Parent PLUS Loans. You must have a Federal FSA ID to sign your MPN. Ifyou do not have a FSA ID, log onto www.fsaid.ed.gov and apply.3.Complete all attached forms. Direct PLUS Loan Request Form Direct PLUS Loan Authorization to apply charges Direct PLUS Loan Refund Release Form Consent to Obtain Credit Report4.Submit the completed forms to the Rachel Cavenaugh in the Financial Aid Office(U-108). You may email them to rcavenaugh@cfcc.edu or fax to 910-362-7632 or mailthem to 411 North Front St Wilmington, NC 28401After your Direct Parent PLUS Loan is approved, the funds will be electronically posted to yourdependent student’s account to pay for tuition and mandatory fees. If you authorize CFCC to applyPLUS Loan funds to cover bookstore charges, your dependent student will be able to charge booksand supplies up to the remaining amount of the loan.
Cape Fear Community CollegePARENT PLUS Loan Request For 2021-22A parent may receive a PLUS loan to pay for the educational costs of an eligible dependentundergraduate student for the year minus all other financial aid.A parent is defined as the student’s biological or adoptive mother or father. A stepparent is alsoeligible to borrow a PLUS loan if his/her income and assets were included on the FAFSA.The total PLUS loan amount may not exceed the student’s cost of attendance (as estimated byCFCC) minus other financial aid awarded for the same period of enrollment.Student’s NameSSNParent Borrower’s NameSSNAmount Requested Parent Borrower’s Email AddressThe Department of Education will submit loan funds to CFCC via electronic funds transfer (EFT).EFT receipt is based on when the financial aid file was complete and when your loan applicationwas certified. Funds will not be released to the borrower until after the 5th week of classes, inaccordance with CFCC policy.Parent Borrower’s SignatureDateFOR OFFICE USE ONLY:CurriculumPLUS LoanExpected Graduation Date Fall SpringSummer
Authorization to Apply PLUS Loan Funds to ALL ChargesI authorize CFCC to automatically apply my PLUS Loan funds to cover my dependentstudent’s current tuition and fees and other charges, such as books and supplies. Iunderstand that my dependent student will be responsible for any charges incurred afterPLUS Loan funds are distributed as instructed on the reverse.Student’s NameStudent’s SSN/ID#Parent Borrower’s SignatureDateFederal financial aid regulations govern how CFCC can apply financial aid to students’accounts. Only “allowable charges,” defined in regulation as current tuition andmandatory fees and college-provided room and board charges, can be paid from financialaid funding. By completing the above authorization, you agree to allow CFCC to satisfyall outstanding charges on your dependent student’s account with PLUS Loan funds.You are not required to sign this authorization form; and if you do, you may cancel it atany time. The written cancellation request should be sent to Rachel Cavenaugh (fax:910.362.7632) in the Financial Aid Office. The U.S. Secretary of Education considers asigned authorization to remain in effect indefinitely unless you cancel it.Failure to sign this authorization will result in your dependent student’s not being able tocharge books and supplies in the CFCC Bookstore against PLUS Loan funds.Cancellation of this authorization may result in unpaid charges on your dependentstudent’s account for which s/he will be solely responsible.**See the “PLUS Loan Refund Release” Form for ImportantInformation on the Release of Excess PLUS Loan Funds**
PLUS LOAN REFUND RELEASE FORMPlease complete and return to CFCC Financial Aid OfficeAttn: Rachel CavenaughFax: 910-362-7632Student InformationName:Date of Birth:SSN:Borrower’s Information N:Academic Year 2021-22PLUS Loan funds in excess of student’s charges should be:Check the box that applies:Refunded to the studentRefunded to Borrower (Parent) at above addressBorrower’s SignatureDateSee “Authorization to Apply PLUS Loan Funds to ALLCharges” Form for Important Information on the Use of PLUSLoan Funds to Cover Student Charges
Consent to Obtain Credit ReportI consent to the U.S. Department of Education and its agents obtaining a report of my creditrecord and using the information from that report in determining whether to make a Direct PLUSLoan to me. I understand that I will be notified in writing of the results of the credit check withrespect to my loan application.Social Security NumberDate of Birth (MM/DD/YYYY)Last NameFirst NameM.I.StreetCityStateZipPhone NumberSignature of BorrowerToday's Date
PARENT PLUS Loan Request For 2021-22 A parent may receive a PLUS loan to pay for the educational costs of an eligible dependent undergraduate student for the year minus all other financial aid. A parent is defined as the student's biological or adoptive mother or father. A stepparent is also eligible to borrow a PLUS loan if his/her income .
